Philanthropy is the act of giving your money and time to help those that are less fortunate than you. Few things in the world are more honorable than philanthropy. While the charitable donations help improve the lives of the recipients, they also help the person making the donations. These are the four biggest benefits of philanthropy.
Everyone Feels Happier
Charitable donations help everyone involved feel a little better about their life. The person receiving the donation is excited because they are getting help they desperately need. The act of helping others naturally releases endorphins in the brain, which makes the philanthropist feel better about their life too. A single act of charity can release more endorphins than buying yourself a fancy present.
Improve the Community
There is no quicker and easier way to help improve the local community than by giving to charitable organizations. Nearly every community in the country has at least one organization that works to help those in need. Volunteering and donating to these local charities can do a lot of good for your neighbors. If you continue to work with these organizations, then you may eventually get in a position of power to help even more people.
Reduce Your Taxes
While it should never be your main reason for giving to charity, there is a slight financial reward to philanthropy. All charitable donations are fully deductible on your yearly taxes. If you donate $5,000 after making $50,000, then your taxable income for the year will only be $45,000. This is a great way to lower your tax burden while also making the world a better place. If you routinely get a tax refund every year, then you may not see any financial benefits.
Lower Stress Levels
Stress can destroy your mind and body. Unfortunately, it is almost impossible to avoid stress in your daily life. The best thing you can do for your health is find ways to release the stress before it builds up. Giving to charity is a great way to do this. Scientific studies have shown the act of helping others naturally reduces your stress and blood pressure. Once you eliminate some stress, you will see an improvement in your overall health.